Along which of these segments of the supply curve is supply most elastic?
a. AB
b. CD
c. DH
d. GH
a. AB
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The self-interest model of government:
a. suggests that government officials are selfish. b. explains why there are limits on government taxation and spending. c. shows who some government projects take place even if the cost exceeds the benefits. d. All of the above.
Suppose you had $1000 and were deciding between two investments. One pays 5% a year for two years while the other pays 8% the first year and 2% the second year. Which investment would provide a higher return?
What will be an ideal response?
An economic naturalist is someone who:
A. has an innate talent for using economic concepts. B. uses economic arguments to protect the environment. C. studies the process of natural selection in a cost-benefit framework. D. applies economic insights to understand everyday life.
When the dollar value of a country's imports of final products exceeds the dollar value of its exports, the country has a
A. balance of trade deficit. B. balance of payments surplus. C. balance of trade surplus. D. balance of payments deficit.